Filing Flows › Federal Agricultural Mortgage (AGM) › Q3 2026
Federal Agricultural Mortgage (AGM) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 6, 2026
Federal Agricultural Mortgage (AGM) reported revenue of $125M for the third quarter 2026 (Q3 2026), +21% from a year earlier and +0.2% from the quarter before. Operating margin was 63.5%, net earnings $64.2M (51.3% of revenue).
Federal Agricultural Mortgage, Q3 2026: revenue $125M (+20% year over year), operating margin 63.5%, net earnings $64.2M, operating cash flow $363M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $125M | +0.2% | +21% |
| Operating profit | $79.6M | -3% | +19% |
| Net earnings | $64.2M | -4% | +17% |
| Operating cash flow | $363M | +798% | +389% |
What changed
Revenue was $125.3M in Q3 2026, up 21% year over year and roughly flat from the previous quarter. Net interest income was the largest line at 93% of revenue. Net interest income added $17.4M year over year (up 18%), 82% of the total change.
Operating profit was $79.6M, a 63.5% margin (down 0.7 points year over year). Of the extra revenue versus a year earlier, 60% reached operating profit, below the 64% margin then. Total costs grew 23% against revenue growth of 21%. The fastest-growing cost line was Credit loss provision (+49%). Net earnings were $64.2M, up 17% year over year. The effective tax rate was 19.3%.
Operating cash flow was $362.7M (up 389% year over year), 565% of net earnings. Non-cash charges added back $1.9M of share-based compensation. Working capital and other items added $296.6M.
Questions
What was Federal Agricultural Mortgage's revenue in the third quarter 2026?
Federal Agricultural Mortgage (AGM) reported revenue of $125M for the third quarter 2026 (Q3 2026), +21% from a year earlier and +0.2% from the quarter before.
Was Federal Agricultural Mortgage profitable in the third quarter 2026?
Operating profit was $79.6M (63.5% of revenue) and net earnings $64.2M.